Bermuda Olympic Association will target the private sector in an attempt to bridge a gap in their finances.

The BOA have announced a new funding strategy, focused on attracking corporate sponsorship that will involve Bermuda's best being individually marketed to firms on the Island.

Previously athletes have had to go cap in hand to businesses on their own for extra funding, and the likes of Keira Aitken and Roy Allan Burch have often complained about a lack of financial support from the BOA.

Only recently companies such as XL and TBI stepped in to help Patrick Singleton in his bid to qualify for next month's Winter Games in Vancouver.

Now the BOA are planning on becoming more active in meeting the needs of the atheletes, and the change in strategy is part of a wider plan to revamp the organisation.

As well as a new approach to fundraising, there will also be the development of new community outreach programmes and the introduction of new branding for the BOA.

"Although the BOA has been around since 1936 and has done an admirable job helping develop and prepare Bermuda's athletes for Elite-level international competition, it has had a fairly low profile," said BOA president Judy Simons.

"Our athletes and the NSGBs have been telling us we need to raise that profile and step up our fundraising capabilities so we can do more for our athletes.

"Many of Bermuda's elite athletes live overseas to train. And it can be tough for them to find suitable employment that allows them enough time for training, while still providing for all their expenses. For that reason, a revamped sponsorship and fundraising strategy is at the core of what we are characterising as the 'rebirth of the BOA.'"

Traditionally, the BOA has received the bulk of its funding from the Bermuda Government Ministry responsible for sport, the International Olympic Committee (IOC) and the Pan American Sports Organisation (PASO).

Although these organisations will continue to be important sources of funding, the BOA will now seek the majority of its funds from the private sector, by offering formal corporate sponsorship opportunities to Bermuda companies.

"We have seen Olympic Associations in other jurisdictions successfully market corporate sponsorship packages that have benefitted both the local sporting movements and corporate donors," said Simons.

"The athletes benefit from additional funds being made available for coaching, facilities and travel, and on the corporate side, the donors enjoy improved recognition as good corporate citizens.

"Furthermore, corporate donors are often able to leverage the marketing power of their association with the international Olympic movement by obtaining rights to the use of the Olympic rings in their promotional materials. The rings are among the most respected and recognised symbols in the world."